When we talk about business process automation, often people think of large businesses or even specific industries. That could not be further from the truth. In fact, business process automation will affect the future of nearly every business. In fact, rather than harming main street and small businesses as many people assume, it can actually work in their favor, making their businesses more profitable and sustainable.
In large part, this is because many people want small businesses to succeed and visit them for an experience rather than the simple commodification of goods and searching for the lowest prices. The ability to create a unique experience takes time and money, and the experience economy is alive and well. Businesses on Main Street who are adopting business process automation are doing better than they ever have.
How does this work? How is it possible that business automation bridges the gap between large and small businesses and has a positive impact across the board? Here are some of those ways, and how business process automation will affect the future of every business.
A Look at History
The industrial revolution was feared by many workers. It seemed that machines were replacing them and that jobs would be displaced. From the business side, it was a boon to be able to reduce manpower costs and Improve productivity. However, in hindsight, the industrial revolution also benefited workers in many ways.
- They were safer. Jobs that were once dangerous were at least partially handled by machines, eliminating many common on the job injuries.
- Work became more meaningful. Mundane, repetitive jobs and often ones that were labor intensive became unnecessary.
- Opportunities were created. New, different industries and jobs were created, meaning there were new opportunities where there had been none before.
- Companies may not have survived without it. Some companies needed the industrial revolution and new processes. Without them, many would have gone bankrupt and been forced to close.
How does this compare with modern advances like AI and business process automation? The same things apply. Safety will be increased, human error decreased. Mundane tasks will no longer require human intervention or supervision. New opportunities will be created, and those companies who do not embrace advances in technology may not survive.
This is not to say that the industrial revolution did not disrupt the job market: it did, but jobs eventually stabilized as workers found a new place in a new type of work environment. The same thing will happen this time around.
According to polls by Gallup, people trust small businesses, and they rank just behind the military for the number two position. The same data shows that large businesses are not trusted, and rank third to last, just above Congress.
Why is this? Because trust is hard to earn in today’s highly skeptical marketplace. And it is also easy to lose if a buyer’s expectations are not met. This is where business process automation plays such a big role. Automated processes produce more predictable results.
Automated processes also allow a business to take control of their online reputation management. This is critical to success, as the internet has made it easier than ever for potential buyers to find reviews of all kinds. An automated reputation management process helps a business gather good reviews and deal with poor ones before they ever appear publicly.
At the same time, automation also frees up the most valuable asset every entrepreneur and business has, time.
Making Time Means Making Money
That brings us to one of the greatest benefits of business process automation for any company: time equals money, and process automation frees up time. This is especially true for the small business owner mentioned above. There is only so much money to hire large teams to do the tasks big businesses may have several employees to perform. But in order to provide their buyer with the unique experience they are looking for, business owners need more time with them.
This is where business process automation benefits them the most. The more tasks that are automated and require little to no time from them, the more time they have to work with customers and the more profitable their businesses are.
For larger businesses, the same principles apply when it comes to automation. If a task that can be automated is not taking up a manager or executive’s time, they are paying someone to perform it. The simple truth is that no matter what size your business, time is money.
What is the primary advantage of business process automation? Simple. It creates opportunities.
- Opportunity to save money and increase profits.
- Opportunity to better manage time and leave more room in your schedule to do what you do best: run your business.
- Opportunity to innovate. Automating mundane processes opens the door to innovation and creativity.
- Opportunity to increase employee satisfaction. Employees who are doing work that allows them to add value to a business makes them more invested in it and more likely to stay.
- Opportunity to impact your industry. The industrial revolution did not happen all at once, and neither will automation. You can be the leader in impacting your industry.
Business process automation is not just for small businesses or enterprise level ones. It is for every business, and nearly every industry will be impacted by this continually evolving technology.
Sometimes it is difficult to know where to start. The key is, you don’t have to do it alone. We here at SixtySixTen offer customized business process automation solutionsthrough the use of AI that are scalable, increase efficiency at all levels, and prevent common errors that can be costing you money.
Our goal is to help your business profit and grow through these customized solutions. We’d love to talk with you about your business and how we can best help you achieve your goals. Contact us today for a free consultation.